The initiative from 9th-14th May aims to help young people to develop a smart relationship with money and highlights the importance of developing a savings habit from an early age. KRD Credit Union is also underlining the important role that parents can play in assisting children to develop smart money habits.

The theme of GR8 Savers week this year is to encourage children to become savings superheroes. Children will be shown how the superpower of savings can help them to get the things that they want.

Gary Loftus, Youth Officer of KRD Credit Union said: “Providing financial education to our members is a core part of what we do. Helping young people, in particular, to develop smart money habits is vital. We find that if smart money skills are learned at an early stage, it is likely that they will stay with you for life.”

Full story, including saving tips on our website!

“The benefits of supporting and encouraging our young savings superheroes are both immediate and long term. In the short term, children will develop strong savings habits, learn how to make smart purchases and learn why they can’t immediately get everything they want. In the long term, we can help them avoid getting into debt. By teaching the value of saving for the future, we can help put them on the road to financial security.”

To celebrate GR8 Savers Week, all junior account holders who open an account or lodge money into their account at KRD Credit Union during GR8 Savers Week will be automatically entered into a free prize draw to win £50. Young savers and their parents are encouraged to call into any of our three offices – Kilrea, Ballymoney and Dunloy, to join in the festivities.

Top five tips for parents to help children develop smart money habits

Teach your children how much things cost

Give your child or children some modest pocket money and help them manage this money by putting some away in savings

Explain to your children that they need to make choices about how to spend their pocket money.

Show that sometimes you have to wait to get something you want - and save hard for it.

Let them join in on the savings experience – bring your child to KRD Credit Union to open a savings account and allow them to lodge part of their pocket money every month themselves.